Ripple & # 39; s XRP Big Catch as a national commercial bank of Saudi Arabia joins RippleNet

September 14, 2018 Ripple

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Ripple XRP "title =" Ripple XRP "/> </div> <p> Ripple's XRP enjoyed a good lap in the market despite the appalling market crash of September 5. The market was neither friendly nor for the market leaders or for the last two days seem to have revived the market since many coins continue to record gains </p> <p> However, Ripple is gaining ground in the banking sector and has taken a position leadership in the arena, although not without facing the growing competition of Stellar (XLM) and other upcoming currencies With the currency riding in the green commercial territory, the community has one more reason to smile. </p> <p> <strong> Ripple brings the National Commercial Bank of Saudi Arabia on board </strong> </p> <p> Ripple announced that the National Commercial Bank of Saudi Arabia has joined RippleNet, a move that will see the great entry of the mo neta in the Arab market become a reality.The Middle East and Saudi Arabia have one of the highest withdrawals of global remittances and according to the announcement: </p> <blockquote> <p><em> In the last ten years the Kingdom of Saudi Arabia it was one of the greatest sources of remittances in the world. According to the World Bank, 30 million dollars were sent to the KSA and in 2016, 37 billion dollars of remittances were sent. </em></p> </blockquote> <p> RippleNet addresses more than 10 million workers in the Kingdom of Saudi Arabia. In addition, the growing number of SMEs is a significant incentive as it contributes a huge percentage of payments and this is the backbone of the Kingdom's future growth economy. Traditionally the market has been served by local banking companies and the entry of RippleNet will expose them to the global market at reduced costs. </p> <p> <strong> Ripple XRP visibility and usability increase </strong> </p> <p> The NC Bank is among the oldest in the country and serves over 5.4 million customers locally and globally. The choice of RippleNet by the Saudi Arabia Monetary Authority (SAMA) is a huge incentive for the credibility of the platforms and a good marketing path for its products in the Middle East region. </p> <p> The NCB will act as a regional hub linking other financial institutions that straddle Ripple's ecosystem in an attempt to accelerate transactions more transparently. This will also accelerate the processing of cross-border transactions. Ripples Declaration: </p> <blockquote> <p><em> "The bank will connect to the financial institutions of North America and Asia for the first time, starting in Singapore The launch of these two critical payment corridors outside the door offers immediate value to NCB customers – services in regions that they did not have access to before. "</em></p> </blockquote> <p> <strong> Middle East increase in the adoption of the blockchain </strong> </p> <p> With more cryptocurrencies entering the Middle East, the RippleNet collaboration with the NCB it gives it a competitive advantage over the rest since the NCB has been at the service of the entire region since 1953 and its local and international network is highly stable. Ripple will exploit over 400 branches across the region. The bank is also the second largest in the region in terms of asset portfolio and this is a hot spot for the adoption of XRP. </p> <p> RippleNet will connect more local families and their relatives abroad using the global NCB brand and this is a huge advantage for the two suits. The two will bring a new culture of efficiency, transparency and the end of the game will be the growth and stability of the business. </p> <p> <strong> The current price and the future of XRP of Ripple </strong> </p> <p> It is still early to celebrate the XRP entry into the Middle East, but according to the statement the collaboration between RippleNet and NCB will air by the end of the fourth quarter of this year. This is the best Christmas present for the Ripple community and for Middle Eastern citizens. </p> <p> At the time of reporting, Ripple XRP traded in green after marginal gains of 4.06% and 2.05% against the dollar and Bitcoin respectively for trade at $ 0.281244. The currency is gaining ground and the entry into new territories will increase its value and 2019 could be a very promising year for XRP. </p> <div class=

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